PM SVANidhi Completes Six Years of Empowering Street Vendors Through Affordable Credit and Social Security
Practice PYQs on this topic
500+ questions on Economy with explanations
📌 Summary:
-
PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) completes 6 years; commemorated by Union Minister Housing & Urban Affairs Manohar Lal with Tripura CM Manik Saha in Agartala on 31 May 2026
-
Scheme launched 1 June 2020 (during Covid-19) by MoHUA to provide collateral-free micro-credit + digital inclusion + social security to urban street vendors
-
Cumulative achievements: 1.05 crore+ loan sanctions; ₹17,800 crore+ disbursed; 75.5 lakh+ unique street vendors benefited
-
Gender outcomes: 34.81 lakh women street vendors empowered; 51.84 lakh loans to women (women are >60% of overall loan disbursals)
-
Digital and financial inclusion: 55 lakh+ vendors digitally onboarded; first-time formal-banking access for many beneficiaries → entry into formal economy
-
Income impact: 20% annual increase in average beneficiary income; 30%+ vendors went on to access credit beyond the scheme
-
North-East: 2.59 lakh+ loans, ₹430 crore+ disbursed; Tripura specifically: 9,300+ loans, ~₹15 crore disbursed
-
Linked component SVANidhi Se Samriddhi: 50 lakh+ vendor families socio-economically profiled; 1.52 crore+ welfare-scheme sanctions across 8 Central welfare schemes facilitated
🎯 UPSC Relevance: GS2 — Government welfare schemes for vulnerable sections; financial inclusion; urban poverty; informal sector formalisation; digital governance.
📝 Prelims Facts:
- PM SVANidhi launched: 1 June 2020 by MoHUA
- Loan tranches: ₹10,000 (1st), ₹20,000 (2nd), ₹50,000 (3rd) — all collateral-free
- Interest subsidy: 7% per annum; cashback up to ₹100/month for digital transactions
- SVANidhi Se Samriddhi links street-vendor families to 8 Central welfare schemes (incl. PMJAY, PM-JJBY, PM-SBY, PMJDY etc.)
🔑 Key Term: PM SVANidhi — Pradhan Mantri Street Vendor's AtmaNirbhar Nidhi, micro-credit scheme of MoHUA providing collateral-free working-capital loans to urban street vendors, with interest subvention and digital-transaction incentives.
UPSC Classification
See PYQs related to “Economy”
Every classification tag above links to actual UPSC questions asked on that topic — with answer, explanation and elimination logic. Only in the app.